posted on
Feb 28, 2008 01:29PM
TomPaineFan, you've got it right. There was very little volumn under .25 back then. The low was .23, but very few shares traded down around that price. How do I know? I had a bid in every single day the price was below .25. Yes, some days the bid was below .25, but the ask was always above it. I followed it very close for well over a month and had bids in most days. It was very difficult to accumulate what I wanted without buying "at market", because whoever that market maker is, he just wouldn't let much go below .25 or .26. I got some, but not near what I wanted. Also, if you'll remember back then, the volumn was much lower than it is currently. Many days only 20 or 30,000 shares changed hands back then. I eventually made it to the position I wanted but my average is .27. Don't get me wrong, I'm not complaining about my average because I believe in a year or two it will be substantially above that. So, that wide trading range yesterday with unusually high volumn was just the market acting like a market, nothing more.